Extended Warranty

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AlasdairMac
Posts: 116
Joined: Sat Sep 30, 2017 3:55 pm
Location: West Lothian

Extended Warranty

Post by AlasdairMac » Sun Feb 09, 2020 7:55 pm

My warranty expires at the end of this month and I’m considering taking out an extension to it but am not sure if it’s a gamble that I’m likely to loose. Do any members of the forum have any advice to give? Thanks folks.
Ateca 2.0 TDi 190 Xcellence DSG 4Drive Sunroof, Black.

dave b
Posts: 37
Joined: Fri Dec 27, 2019 7:09 pm

Re: Extended Warranty

Post by dave b » Mon Feb 10, 2020 9:00 am

Someone who took out a warranty extension year in year out for 5 years and never needed it is perhaps likely to say 'Waste of money, nothing went wrong, could have saved £1500'. The flip side of someone who didn't and had a turbo go would say 'If only I'd spent that £350 on an annual warranty...'
It is one of those risks...either way. A fair few mates of mine (for motorbikes) do not take the warranty but put a couple of hundred quid in an acct as a bit of a cushion. When it's time to swap the bike they use what's left.

I personally wouldn't bother but would continue with dealer servicing (not because they're any good but because the 'goodwill' side of a mechanical issue well after warranty expiration often falls back on whether you've used a main dealer or not)

elevenses
Posts: 46
Joined: Sun Sep 15, 2019 3:10 pm

Re: Extended Warranty

Post by elevenses » Mon Feb 10, 2020 1:50 pm

Look at it this way....

The insurer makes money out of taking your premium every year, which means on average, or 'actuarial' basis you would be better not taking out an extended warranty.

In the same vein, set up a savings account to self insure.

This works on well maintained reasonably used good quality cars in most cases!

AlasdairMac
Posts: 116
Joined: Sat Sep 30, 2017 3:55 pm
Location: West Lothian

Re: Extended Warranty

Post by AlasdairMac » Mon Feb 10, 2020 5:48 pm

Thanks both of you. You confirm my own thoughts and so I’ll give the warranty a miss.
Ateca 2.0 TDi 190 Xcellence DSG 4Drive Sunroof, Black.

Chop
Posts: 12
Joined: Sun Nov 24, 2019 3:05 pm

Re: Extended Warranty

Post by Chop » Mon Feb 10, 2020 6:32 pm

The weakest link is your DSG gearbox. As you have the more reliable wet clutch box, I agree with your decision to take the risk.
2.0 TSI Xcellence in Rhodium Grey, 2020 spec, spare wheel and panoramic roof.

elevenses
Posts: 46
Joined: Sun Sep 15, 2019 3:10 pm

Re: Extended Warranty

Post by elevenses » Tue Feb 11, 2020 4:21 pm

My own rule with insurance is: 'Can I afford the bill if somethiong goes wrong/gets stolen/catches fire etc.

If I can, I'll usually not insure.

If its car insurance, Holiday insurance, Builidings/Contents insurance it gets purchased, as the result could be tens or hundreds of thousands of pounds, which is crazy risk...

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